Extension of COVID-19 changes to Corporations Act welcomed by Governance Institute
Governance Institute has welcomed Treasurer Josh Frydenberg’s announcement of a six month extension for companies to hold shareholder meetings online and sign documents electronically.
“These steps were introduced as temporary measures during COVID-19 but were due to expire at a critical time for listed companies still in the midst of their AGM seasons which had led to a great deal of uncertainty and anxiety,” Governance Institute CEO Megan Motto said today.
“Governance Institute has been strongly lobbying on this issue and we welcome this decision from the Treasurer which means companies can continue to hold lawful — virtual — meetings while still adhering to the distancing requirements in place due to the pandemic.”
The temporary measures are now due to expire in March 2021.
Governance Institute had made these recommendations as part of a submission to the Senate Select Committee on the use of technology by business during the COVID-19 crisis.
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